Lido DAO jumps 10% – Can $38B TVL push LDO past $2?
Main Idea
Lido DAO (LDO) experienced a significant price surge and increased Total Value Locked (TVL), raising speculation about its potential to reach $2, supported by bullish market data and positive performance updates.
Key Points
1. LDO surged 9.91% in 24 hours to $1.28, with TVL climbing to $38.17 billion and 24-hour volume spiking 122.74% to $391.95 million.
2. Open Interest rose to $273.66 million, Funding Rates stayed positive, and net outflows indicated strong accumulation by spot buyers.
3. LDO's TVL previously peaked near $35 billion in January before losing over $20 billion, but has since rebounded with a 45% gain in the past month.
4. Lido DAO's Q2 report highlighted growth in staked token distribution (478.7K stETH) and maintained its leading position in public cloud staking, boosting market sentiment.
5. Bullish indicators suggest LDO could aim for a break above $1.50, with $2 as a potential target if current market pressure holds.
Description
LDO’s $38B TVL surge and bullish flows raise the question: is $2 within reach?
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